The Insurance Confidentiality Agreement is essential for insurance sector operations in Indonesia where parties need to share sensitive business and personal information. This document is typically used when insurance companies, brokers, or service providers need to exchange confidential information such as policyholder data, claims information, or proprietary business details. It ensures compliance with Indonesian insurance regulations, particularly Law No. 40 of 2014 on Insurance, OJK regulations, and the Personal Data Protection Law. The agreement is crucial for protecting sensitive information while facilitating necessary business operations in the Indonesian insurance market, where data protection and confidentiality are subject to strict regulatory oversight.
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1. Parties: Identification of the parties entering into the agreement, including their legal status and registration details as required under Indonesian law
2. Background: Context of the agreement, relationship between the parties, and purpose of sharing confidential information
3. Definitions: Detailed definitions including 'Confidential Information', 'Authorized Representatives', 'Insurance Business', and other key terms
4. Scope of Confidential Information: Detailed description of what constitutes confidential information in the insurance context
5. Confidentiality Obligations: Core obligations regarding the protection and non-disclosure of confidential information
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including regulatory requirements
7. Data Protection and Security Measures: Specific measures required to protect confidential information in compliance with Indonesian data protection laws
8. Return or Destruction of Confidential Information: Procedures for handling confidential information upon termination or request
9. Term and Termination: Duration of the agreement and circumstances for termination
10. Breach and Remedies: Consequences of breach and available remedies under Indonesian law
11. Governing Law and Jurisdiction: Confirmation of Indonesian law as governing law and jurisdiction for disputes
1. Regulatory Compliance: Additional section when dealing with regulated insurance activities requiring specific compliance measures
2. Third Party Rights: Section needed when confidential information may be accessed by or originated from third parties
3. Electronic Information Handling: Specific provisions for digital data handling when parties primarily exchange information electronically
4. International Transfer of Data: Required when parties may transfer data across borders
5. Audit Rights: Optional section granting rights to audit compliance with confidentiality obligations
6. Insurance Requirements: Section specifying insurance coverage requirements for data breach incidents
1. Schedule 1 - Categories of Confidential Information: Detailed list of types of confidential information covered by the agreement
2. Schedule 2 - Authorized Representatives: List of individuals authorized to access confidential information
3. Schedule 3 - Security Protocols: Detailed technical and organizational security measures to be implemented
4. Schedule 4 - Data Processing Requirements: Specific requirements for processing personal data under Indonesian law
5. Appendix A - Form of Confidentiality Undertaking: Template for confidentiality undertakings to be signed by employees/representatives
6. Appendix B - Information Return/Destruction Certificate: Template certificate confirming return or destruction of confidential information
Relevant legal definitions
Clauses
Relevant Industries
Insurance
Financial Services
Healthcare
Technology
Professional Services
Risk Management
Banking
Asset Management
Consulting
Legal Services
Relevant Teams
Legal
Compliance
Risk Management
Data Protection
Information Security
Operations
Underwriting
Claims Processing
IT
Business Development
Partnerships
Actuarial
Relevant Roles
Chief Executive Officer
Chief Risk Officer
Chief Compliance Officer
Head of Legal
Data Protection Officer
Insurance Operations Manager
Underwriting Manager
Claims Manager
IT Security Manager
Business Development Manager
Risk Manager
Compliance Analyst
Legal Counsel
Insurance Broker
Actuarial Manager
Partnership Manager
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